What is bitcoin?

What is bitcoin?

Bitcoin is a global currency that uses a public ledger system to record transactions being sent from one person to another. This all happens without a central bank in the middle and it’s not controlled by any government, regulating body, company, or person. All transactions are completely transparent and thousands of copies of the ledger are kept across a distributed network of computers with no single point of failure. In other words, bitcoin is a true decentralised currency that nobody can control and it is for this reason that it is generating the kind of interest that it is. Bitcoin works a lot like cash in that you receive it instantly when it’s sent and once you have possession of it nobody can take it away from you. Bitcoin does not require any “trust” to work because it relies on mathematical equations and a complex verification system that cannot be manipulated by anyone. This makes bitcoin a truly revolutionary peer-to-peer system that is designed to get even better as more and more people start to use it.

Want to earn passive income?

By joining BitClub Network, you can create significant wealth for yourself by buying into one of our mining pools. We have three different mining pools, costing US$500, US$1 000 and US$2 000 respectively. By having a share in a pool, you can share in the daily profits arising from the bitcoin mined in that pool. Your share can be sent to your bitcoin wallet on a daily basis, or reinvested to compound your growth – whichever works best for you.

We also give you – free and gratis – a pre-determined number of ClubCoin (with the number determined by the pool you buy a share in). Clubcoin will increase in value over the years but will be given free only until the end of this year. Thereafter, anyone interested in accruing this particular crypto-currency will have to purchase it on the open market.

Our three Mining Pools

MiningPool#1

Each share (costing US$500) will be used to purchase new bitcoin mining servers. All bitcoin earned will be split among the members of this pool and paid out daily. Each share earns 50% profit with the other 50% being used to fund the mining operation and to purchase additional mining shares.

MiningPool#2

Each share (costing US$1 000) will be used to purchase new bitcoin mining servers. All bitcoin earned will be split among the members of this pool and paid out daily. Each share earns 60% profit with the other 40% being used to fund the mining operation and to purchase additional mining shares.

MiningPool#3

Each share (costing US$2 000) will be used to purchase new bitcoin mining servers. All bitcoin earned will be split among the members of this pool and paid out daily. Each share earns 70% profit with the other 30% being used to fund the mining operation and to purchase additional mining shares.

So, using Mine #1 as an example, if the total bitcoin mined for the day equalled1 BTC and there are 100 shares in the pool, each share would earn .01 BTC. From this, 50% would be paid directly to the member as profit (.005 BTC) whilst the other 50% (.005 BTC) would be used to fund the mining operation costs and to purchase additional shares. Assuming that the price of one bitcoin was $500 and you have 1 share, you would earn $5 (.01 BTC) of which $2.50 is paid to you and $2.50 is used to purchase an additional share on your behalf. In this case, you would purchase an additional .005 shares with your $2.50 and would have a total of 1.005 shares going into the next day that you’d be earning on.

You can choose to be an investor, in which you simply purchase a share in a mining pool (or all three mining pools, making you a Founder), or you can invite others to do the same and earn revenue from their mining. It’s entirely up to you.